“With President Trump’s incredibly foolhardy decision Thursday to impose tariffs on steel and aluminum from Canada, Mexico, and the European Union, the probability grows of an economic crash this fall.”

“A gauge tracking Shanghai shares has taken quite a beating in the past six days, closing Wednesday at its lowest level since October 2016. While the bearish sentiment hardly bodes well for China’s big debut, it does mean foreigners are getting in at the cheapest valuations in more than two years.”